Lord Tyrie says consumers must be put at heart of competition law regime February 25, 2019 The chair of the competition regulator Lord Tyrie today said consumers would be put at the heart of a new competition law regime to help fix the “erosion of trust” between the public and the authorities. Speaking in London at the launch of a set of proposed reforms, Tyrie said there is a “growing sense that [...]
Competition regulator set to launch reforms to beef up consumer protection February 24, 2019 Consumer protection is set to be beefed up with bigger fines and disqualification for company directors under a new set of proposals to be announced tomorrow by the competition watchdog. The chairman of the Competition and Markets Authority (CMA) Lord Tyrie will announce a set of proposed reforms at an event with the business secretary Greg [...]
Private equity player KKR reportedly circling Asda following Sainsbury’s deal setback February 24, 2019 US private equity house KKR is reportedly mulling a bid for Asda after a ruling last week by the competition regulator that could stymie its proposed tie-up with fellow big four supermarket Sainsbury’s. The Competition and Markets Authority (CMA) said last week that a deal between the two supermarkets could lead to "a substantial lessening [...]
Chickens come home to roost for Mike Coupe as Sainsbury-Asda deal dies February 22, 2019 Mike Coupe was a happy chappy back in April. Notably he was caught on camera humming the lyrics to the gold digger's song – 'we're in the money' etc, after announcing a supermarket mega merger like no other. This week however the companies' complete lack of understanding of the Competition and Markets Authority has come [...]
How will the EU act after Brexit? February 21, 2019 Britain's planned departure from the EU exposes many issues. A key one is the economic path the UK will choose. Less commonly asked is what will the rest of the EU do. Perhaps this should figure more in the debate. Last year, President Macron suggested the EU move towards a core, built on closer political [...]
FCA hands £415k in fines to investment groups over float collusion February 21, 2019 The UK’s financial watchdog has slapped two investment management groups with fines for breaking competition rules by sharing information ahead of an initial public offering (IPO). The Financial Conduct Authority (FCA) fined Hargreave Hale £306,300 and River and Mercantile Asset Management (Raman) £108,600. It said the firms had shared “strategic information”, including their intentions on pricing [...]
Awards 2022 February 20, 2019 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
Watchdog gives insurance brokers clean bill of health on competition worries February 20, 2019 Regulator the Financial Conduct Authority (FCA) today said it had not found evidence of significant levels of harm in its probe into insurance brokers, meaning that “intrusive remedies” will not be necessary. The FCA launched its analysis of the wholesale insurance brokers market in November 2017 to assess how competition was working in the sector. It said that [...]
UK telecoms operators must strengthen cyber security to prevent cyber attacks, says top spy boss February 20, 2019 The UK needs higher standards of cyber security across the telecoms sector, a top spy boss said today, insisting no conclusion has been reached about the use of Huawei’s 5G equipment. Speaking at a cyber security conference in Brussels this afternoon, Ciaran Martin, head of the National Cyber Security Centre (NCSC), said the telecoms market must [...]
Celebrity marketing fees fall by two-thirds in two years amid shift to micro-influencers February 20, 2019 The amount of money marketers are willing to splurge on high-profile celebrity influencers has plunged by two-thirds over the last two years, a new survey has revealed. Data published by Rakuten Marketing shows UK marketers are willing to fork out £25,000 for a single post by a Facebook influencer, down from £75,000 in 2017. Read [...]